Getting a car financing offer: how decisions are made

At CarMax, we pride ourselves on transparency throughout the car buying process, including the financing process. To this end, we've gathered information to help you understand how creditors make decisions to give you a car financing offer. These decisions are based on four main factors:

To get the best car financing offer, you should select a vehicle that fits your budget and provide as much down payment as possible. These two factors alone may increase your likelihood of approval, could improve your offer, and will reduce your monthly payment.

Factors affecting your monthly payment
Your monthly payment is determined by three major factors listed below in order of impact: